Marantis,
Deputy U.S. Trade Representative, pointed out that since China's accession to the WTOWorld Steel Pipe , U.S. exports to China growing faster than any other major economies, China has become second only to Canada and Mexico, the U.S. third largest export market, in 2010, the U.S. trade of goods and services exports totaled $ 113 billion.
former U.S. Treasury Secretary Henry Paulson said in Washington before taking the legislative approach to the threat to other countries are not desirable. He said the United States and China is an important engine of world economy, the exchange rate issue is, of course sensitive to the political and trade topic, but does not lead to the largest cause of the large trade deficit. He stressed that the two countries continue to seek mutually beneficial and win-win strategy to expand the economic pie is conducive to the road of the two peoples and the world economy.
According to the U.S. Department of Commerce estimates, the per export $ 1 billion of goods for the United States to create 6000 jobs, the sustained and rapid economic growth in China will no doubt lead to more employment opportunities. U.S. President Barack Obama has said that the success of a country do not need to be the cost of the loss of other countries, the two can achieve win-win. Marantis emphasized that the United States and China to achieve win-win premise of the two sides of a high degree of consensus and cooperation to address the opportunities and challenges in the relations between the two countries.
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Speaker of the House of Representatives, John Boehner has once again reiterated its opposition to the Congress by involving the position of the RMB exchange rate bill, stressing that it would be "a very dangerous policy. Bona pointed out that President Obama should play a leadership role on the RMB exchange rate issue.
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U.S. House of Representatives Ways and Means Committee recently held a hearing on US-China economic relations, the RMB exchange rate issue has once again become the focus of debate, some members even threatened to go to China to launch a "trade war". At the same time, the U.S. government and outside it, some against the manipulation of the political game to the detriment of the rational voice of the Sino-US relations by the exchange rate issue.
In this context, the hearing of the House of Representatives Ways and Means Committee for the year held the first US-China economic relations, seems to attack China's currency manipulation "criticism". In his speech, the chief Democratic member of the Ways and Means Committee Levin accused the Bush administration and House Republican leadership "connivance" of China's currency manipulation, and request the House to vote on the RMB exchange rate bill immediately. From New York Democratic Congressman Charles Rangel told: "In order to correct the trade-distorting policies in China, the United States should not hesitate to trade war with China. Another Democrat, Congressman McDermott also claimed that the United States has suffered significant losses because of the currency issue, the United States should not fear a trade war.
Since the U.S. Senate on the 11th of this month through the 2011 currency exchange rate surveillance reform bill, to the old economic theme of the RMB exchange rate has once again been pushed to the cusp of the American political game. The Democratic Party has always been a major promoter of the Congress within the legislation of the RMB issue sanctions against China. Senate through the current exchange rate bill, members of the Democratic Party in the House of Representatives operated actively seeking to vote.
Brainerd,
the U.S. Treasury for International Affairs Vice Minister, said at the hearing, the Obama administration's economic and trade policies with China has made significant progress in many areas. Brainerd said, taking account of inflation since June 2010, the RMB against the U.S. dollar has appreciated by more than 10%; the past five years, the real appreciation of the RMB against the U.S. for almost 40%. In bilateral trade since 2009, U.S. exports to China increased by 61 percent, almost twice that of the rest of the world export growth. Brainerd pointed out, need a clear appreciation of the RMB exchange rate itself will not solve the U.S. trade deficit and employment issues, some of the provisions of the Act of Congress yuan "is indeed worrying if it meets our international obligations", and deal with the United States the challenge of economic relations, the need to strengthen the international system of trade and financial governance World Pipe network informed, rather than abandon this approach.
proposal by the former chairman of the House Ways and Means Committee, the senior Democratic Congressman Sander Levin, 2011, fair trade, monetary reform bill "has access to 230, including 168 Democratic members of the House of Representatives of the Joint . The bill is actually a replica of the RMB exchange rate bill passed by the Democratic-controlled House of Representatives in 2010. At the same time, the Republican ultra-conservatives to be outdone. 2012 presidential election, Republican candidates are "scrambling" to show their tough stance. Former Massachusetts Governor Mitt Romney in a leading position in the party, emit hard words, claiming that if elected President, he will be the first day in office took China as a "currency manipulator".
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for the irresponsible remarks of some members of Congress and politicians, the United States some insight also issued a voice of reason. House Ways and Means Committee held a hearing of the day the Lord Xikan Pu pointed out that only focus on some members of Congress to pass legislation to deal with the RMB exchange rate issue as if it were a panacea to solve the problem, in fact, they ignore the wide range of topics in Sino-US economic relations, The sweeping is not helpful.